London Stock Exchange: Decline in UK Funds
Debate between Lord Livermore and Lord Kamall(1 week, 4 days ago)
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Lord Livermore (Lab)
The noble Lord says that the corporation tax is uncompetitive, but it is where his Government put it. We have said that we will cap it at that level for the remainder of this Parliament; it is one of the most competitive in the G7. We have also said that if it looks uncompetitive at any point, we will act.
Lord Kamall (Con)
My Lords, can the noble Lord enlighten the House on the conversations his department has had with UK pension funds on the barriers to them investing in the UK? What sort of concerns do they express, and what are the Government doing to overcome them?
Lord Livermore (Lab)
As I have already set out, that is exactly what the pension review is looking at: identifying those barriers and why UK pension funds invest less in the UK than their overseas counterparts. The consultation is currently live and we will feed back on it in due course.
International Banking: Payments
Debate between Lord Livermore and Lord Kamall(2 months, 3 weeks ago)
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Lord Livermore (Lab)
I am afraid I do not have that specific information to hand, but I am more than happy to write to the noble Lord.
Lord Kamall (Con)
My Lords, we know that the BRICS grouping of countries is looking to expand, and has recently invited allies of ours, such as the United Arab Emirates and Saudi Arabia, dare I say it. What conversations do the Government intend to have with those two allies, particularly as the BRICS grouping promotes its alternative international financial system?
Lord Livermore (Lab)
As I said earlier, we absolutely respect each country’s right to choose its own path and its own partners, including which international groupings it associates with. The UK will continue to collaborate on international challenges with countries right across the globe—including the BRICS members that he mentions—in forums such as the UN and the G20, to build an open, stable and prosperous world.